SSP Group acquires Australian airport F&B operator
This will expand SSP Group’s operations in Australia.
SSP Group has acquired the Australian airport F&B operator Airport Retail Enterprises Pty Ltd (ARE) in Australia for an undisclosed amount.
The acquisition is expected to be completed by the end of June, subject to receipt of all necessary approvals including regulatory clearance and client consent. According to SSP Group's press release, post completion, the acquisition is expected to be immediately earnings accretive, albeit the contribution in the current financial year will be largely offset by initial integration costs.
Founded in 1971, ARE is a leading, privately-owned airport F&B operator, with annualised sales in the region of $200m (£100m) from 62 outlets, principally bars, casual dining restaurants and cafes, across seven Australian airports: Sydney, Melbourne, Brisbane, Gold Coast, Canberra, Townsville and Mount Isa.
SSP Group is a global operator of restaurants, bars, cafes and other food and beverage outlets in travel locations across 36 countries. It operates 40 units across Australian airports and rail stations, covering most major cities, including Sydney, Melbourne, Brisbane, Perth, Hobart, Darwin and Alice Springs.
According to its website, SSP Group operates 30 brands in Australia, including local favourites such as Cascade Bar and Roll’d, in addition to international brands such as Yo Sushi
“The Asia Pacific region offers a significant opportunity to build returns and drive growth for the Group. Our enlarged business in Australia will have the opportunity to become a regional centre of excellence. We look forward to welcoming 1,500 colleagues from the ARE business to our team,” Patrick Coveney, CEO of SSP Group said.